Korea urged to spur ESG efforts for sustainable growth
Posted : 2021-03-14 11:11
Updated : 2021-03-15 08:55
This article is the first in a four-part series highlighting the importance of ESG criteria in management and making suggestions for Korea s financial, industrial and public sectors to come up with better ESG strategies for sustainable growth. ― ED.
Concerns remain over greenwashing, poor corporate governance
By Park Jae-hyuk
It looks quite obvious that the term ESG has become indispensable for Korean businesses to represent their management strategies for this year and beyond.
Standing for the environmental, social and corporate governance standards used to measure sustainability and the societal impact of investments, these values-based principles are now considered essential to attracting global institutional investors. Domestic firms in the financial, industrial and public sectors have therefore been busy lately issuing press releases on every single ESG effor
POSCO Int l becomes first Korean trading company to issue ESG bonds
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[ANALYSIS] ESG responsibility changes financial investment landscape
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By Park Jae-hyuk
BlackRock appears to be falling into a dilemma over its strategy to prioritize environmental, social and corporate governance (ESG) criteria after Kakao sparked severe public criticism for an alleged workplace bullying incident, just a few days after the IT firm attracted an additional investment from the world s largest asset management company.
Given that commitment to employee welfare is classified as a social factor in ESG criteria, attention is focused on whether or not BlackRock will reconsider its investment in Kakao.
According to its recent regulatory filing, BlackRock became the fourth-largest shareholder of Kakao last Monday, following Kakao Chairman Kim Beom-su, the National Pension Service (NPS) and Tencent s subsidiary Maximo, by increasing its stake to 5.18 percent from 4.96 percent. The Kakao shares held by BlackRock are worth over 2 trillion won ($1.8 billion).